Nrcewker
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March 26, 2023, 08:50:17 AM |
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Only pay with bitcoins if there are no alternatives or choices. Bitcoins are limited in number, so they are very valuable. Now if you giveaway these bitcoins like this to everyone, you will definitely miss the opportunity to sell the coins at a comparatively high price. I really feel bad when I don’t have any other options other than Bitcoins to make the payment, and then suddenly the price of the coin increases. I often regret my decisions, and I have finally made up my mind that I will try to avoid as many Bitcoin transactions as possible. This is my feeling when I spend bitcoins unnecessarily.
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fuguebtc
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March 26, 2023, 08:52:14 AM |
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For those who consider bitcoin as an investment, spending bitcoin is uncomfortable and wasteful because they believe the value of bitcoin will be huge in the future. But there are also people who only see bitcoin as a currency, a means of payment, spending bitcoin with them is normal because it will contribute to promoting bitcoin to become more popular. Bitcoin is very versatile, so it depends on the purpose of each person we use it. I also rarely use bitcoin to pay, but using it in cases of need is not a problem because I can buy it back later.
It will only reduce the number of bitcoins if they use bitcoin as a means of payment. Besides that, with the current situation and conditions where not many countries accept bitcoin as a means of payment, it would be better if we used bitcoin as an investment tool first. After bitcoin can be accepted as legal tender in all countries, we can use it or choose fiat. And for now, I think that it's better if I just keep the bitcoin because there is very high upside potential for the bitcoin price. Legally, I don't want to spread Fuds or have pessimistic thoughts. But I doubt that bitcoin will be accepted for legal tender in all countries, I never thought that would happen. For countries with developed economies like the US or EU that have stable currencies, there's no reason they should accept a currency they can't control. It's not in their favour, so that possibility is improbable. In the future, I predict bitcoin will be classified as an asset class like gold and will become the reserve asset of countries. Therefore, we should accumulate and hold bitcoins from now on when their value has not reached its real value.
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KaliLinux
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March 26, 2023, 09:01:04 AM |
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30+ Bitcoins? who's him? I think you're refer to Laszlo Hanyecz where he spend 10,000 Bitcoins for 2 pizza and he was not disappointed for doing it, so why you should care with it?
It's your choice if you want to pay with BTC or not, but I believe there's a time where you will convert your Bitcoin to cash because you will need that money in the future, you can't just hold it and not enjoy what you've accumulated so long.
I agree with you. It wouldn't matter whether you spend your Bitcoin directly on whatever you wanted to pay for or you decide to convert to cash and still spend it as fiat, either way, you are still spending it. I don't think this kind of sentiment should be attached to Bitcoin spending because we however know that you cannot hold them forever you still have to spend them one way or the other.
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Luzin
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March 26, 2023, 09:06:19 AM |
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Only pay with bitcoins if there are no alternatives or choices. Bitcoins are limited in number, so they are very valuable. Now if you giveaway these bitcoins like this to everyone, you will definitely miss the opportunity to sell the coins at a comparatively high price. I really feel bad when I don’t have any other options other than Bitcoins to make the payment, and then suddenly the price of the coin increases. I often regret my decisions, and I have finally made up my mind that I will try to avoid as many Bitcoin transactions as possible. This is my feeling when I spend bitcoins unnecessarily.
Sure, I made BTC like the savings of the future. I will not reduce unless the need is urgent and have no other options. So I try to store BTC and even want to always increase the amount. Indeed, in the previous period I had made BTC into fiat money for the birth of my child. I fulfilled all my child's birth needs through BTC. No regrets. But that's because I had to do that, because I didn't have enough money at the time. But it made me eager to collect more BTC again.
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SirLancelot
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March 26, 2023, 07:20:44 PM |
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That’s because most people in the bitcoin community see bitcoin as a store value and do not like to use bitcoin as a currency. Spending bitcoins on stuff like groceries and gadgets feels like a waste of investment to many bitcoiners, which is kind of strange to admit considering that we like to talk about how bitcoin is going to replace fiat. I believe the story you’re referring to is Laszlo pizza story. FYI that will forever be remembered in bitcoin history.
They invest in Bitcoin because of the profit and they will still use the profit to buy or pay something. This isn't different than using Bitcoin directly. They can in fact save time and fees if they do it than converting their Bitcoins first. When they convert or sell their Bitcoins, the same doubt can still be experienced if one is overthinking that what if it became really expensive one day? If BTC became a replacement to fiat, these people won't have a choice anymore to use their Bitcoin but I doubt it will happen. BTC isn't that good in the eyes of the government/banks and there are many things that could go wrong if there are no more local currencies.
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indah rezqi
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March 26, 2023, 07:51:27 PM |
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Yes, it's our decision, no one is forcing us to do it, if we feel uncomfortable, we shouldn't do it. But if OP is talking about emergencies and spending bitcoins as a last resort, it's not a big deal because bitcoin has also helped us with problems in life. I also don't like spending bitcoins on daily activities, but in case of an emergency and the middle of a choice, I wouldn't hesitate to use my bitcoins. There are more important things than bitcoin in this life. In an emergency or not, bitcoin is an alternative that anyone can use as a means of payment. An agreement is needed between the recipient and the sender regarding the means of payment, if both agree then the transaction is safe without any problems. I also wouldn't spend bitcoin as a means of payment for anything, it's against the rules of my country. But that doesn't mean I don't support bitcoin as a currency, and it's possible that I'll spend bitcoins to pay if the seller accepts them as a means of payment in a pinch. The main problem right now is, bitcoin adoption cannot be done here because of the government's ban.
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The Cryptovator
Legendary
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Activity: 2338
Merit: 2209
Crypto Casino and Sportsbook
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March 26, 2023, 08:04:16 PM |
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I can understand the emotions that arise when spending Bitcoin directly. However, it is important to remember that Bitcoin is meant for peer-to-peer transactions and can be used whenever needed. At times, I sell Bitcoin to meet my needs when there are no other options available. This is not a bad thing as it helps me in my daily life. However, I always try to avoid making large purchases as I do not want to lose a significant portion of my Bitcoin portfolio. For smaller transactions, using Bitcoin does not matter to me, and I certainly make use of it.
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danadc
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March 26, 2023, 08:09:15 PM |
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Yes, it's our decision, no one is forcing us to do it, if we feel uncomfortable, we shouldn't do it. But if OP is talking about emergencies and spending bitcoins as a last resort, it's not a big deal because bitcoin has also helped us with problems in life. I also don't like spending bitcoins on daily activities, but in case of an emergency and the middle of a choice, I wouldn't hesitate to use my bitcoins. There are more important things than bitcoin in this life. In an emergency or not, bitcoin is an alternative that anyone can use as a means of payment. An agreement is needed between the recipient and the sender regarding the means of payment, if both agree then the transaction is safe without any problems. I also wouldn't spend bitcoin as a means of payment for anything, it's against the rules of my country. But that doesn't mean I don't support bitcoin as a currency, and it's possible that I'll spend bitcoins to pay if the seller accepts them as a means of payment in a pinch. The main problem right now is, bitcoin adoption cannot be done here because of the government's ban. At this point in life I would like to pay only with fiat money because bitcoin is better to have it saved,it is safer because it is the best investment in the world, I do not see a bad thing in spending and paying for it with bitcoin because it encourages all adoption and it makes people interact more with bitcoin,but I feel that I know a lot about bitcoin and for that reason I try to save money,because I know that the scope can be Monumental and since knowledge is everything for a reason I say that the best thing is have it like this.
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Obari
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March 26, 2023, 08:24:59 PM |
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With this mentality, I don't think you will ever have to sell your coin and I basically think the right idea is that, it is ok to sell ones coin if there is a profit on it and what really matter s is that we're not making loss but profit rather and one of the major reason I don't feel ok selling my BTC is the transaction fee and thank God for lightening network, except that, I don't see any reasons to make payments using Bitcoin for transactions. I also agree with OP as I also have to swap my BTC to usdt before making payments or sending crypto just to cut cost on fees.
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Bananington
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March 26, 2023, 09:08:35 PM |
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You will feel better if you use bitcoins more for transactions when necessary. You will be crucified by your thinking for doing a transaction with bitcoins because you are not used to it and most likely just invest in bitcoins to make profit from increase in value. Inasmuch as we do not spend more bitcoins than we are keeping, we do not have a problem using bitcoins once in a while to pay for some things. Bitcoin is underutilized to many people who never use it for transactions but only to invest in. The people who are properly using bitcoins are the people who use it for transactions and still invest in it.
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blockman
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March 26, 2023, 09:16:44 PM |
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Don't feel any guilt when you're spending it on something important. Money is made to be spent and just like bitcoin. But it's different this time on bitcoin because we can use it as an investment. The time will come when we have to spend or sell our bitcoins and that's okay. As long as you're mind is telling you that you've got the thing you desire in exchange for it for your satisfaction then that's good. It's inevitable that the time will come when we need to spend bitcoin and that's the actual use case of it for buying things and paying for them. Before I felt bad because I'm seeing it as an investment but until I realize that it was okay and that I'm helping the ecosystem of it through spending and using it, it made me relief.
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bitzizzix
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March 27, 2023, 12:41:08 AM |
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I think if there are circumstances that require you to pay using bitcoins, I think that's fine. And what we have to realize besides bitcoin being a good investment, bitcoin can also be an alternative payment if we really have to use it for some reason. and I have also used bitcoin as a means of payment, for some reason and indeed at that time I had to pay using bitcoin and I was happy, because it was the first time doing it.
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GreatArkansas
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March 27, 2023, 01:15:55 AM |
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(....) What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.
You should consider what is your goal and why you are holding or storing or accumulating Bitcoins. If you buy some Bitcoins and spend them in your daily lives, then don't mind how much is the price of the Bitcoin on the time you spend them on your daily activities. I think that's why it seems you are disappointed about the pizza guy before because instead of spending those Bitcoins he should have held. No one knows where Bitcoin will go before.
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ilovealtcoins
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March 27, 2023, 05:28:00 AM |
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I think if there are circumstances that require you to pay using bitcoins, I think that's fine. And what we have to realize besides bitcoin being a good investment, bitcoin can also be an alternative payment if we really have to use it for some reason. and I have also used bitcoin as a means of payment, for some reason and indeed at that time I had to pay using bitcoin and I was happy, because it was the first time doing it.
It was really an enjoyable experience, and we should be happy instead of feeling bad. But I will feel bad if I use too much bitcoin for unnecessary payments because accumulating bitcoins every day is difficult when the price increases. I still prefer accumulating bitcoins rather than spending more, and I agree with OP, we will regret it when bitcoins are worth many times more than they are now.
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Godlovesyou
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March 27, 2023, 05:40:35 AM |
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Paying with bitcoin is not bad, you only need to be calculative on the kind of products you're paying for that may or may not required huge units of bitcoins. Personally I can if what am buying is small so that I won't feel regrets when the price finally goes up.
But so people may decides not to use bitcoins to buy anything because they feels that's more of their future investment and it will look like transferring your future to someone else. Is some worth personal
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Abiky
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March 27, 2023, 10:50:51 AM |
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Hello everyone! Recently I was thinking about BTC payments and I believe that the system is moving towards bitcoin adoption and paying with bitcoin. And it's great!
But the problem for me is that anytime I think about paying with BTC I feel somehow uncomfortable. I always remember the guy who spent 30+ bitcoins on pizza and now these bitcoins are worth a fortune. Like I don't want to be this guy and pay with an asset that WILL go up in price. It feels like you paying more for the product from a future perspective.
What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.
Bitcoin was designed to be "digital cash", not "digital Gold" or a "store of value". After all, the whitepaper reads "Peer to Peer Electronic Cash". It's just that most people view Bitcoin as an investment tool to get rich, instead of using it as real money to pay for goods and services. Market volatility would be a reason of concern to people who rely on Bitcoin as a store of value. If you don't care about Fiat, and only "stick" to Bitcoin, then you will understand that 1 BTC = 1 BTC no matter what. Otherwise, stablecoins and Fiat would be your only choice. No one knows how much BTC will be worth in the future because of its unpredictable nature. As long as it does the job it's supposed to, nothing else matters. Just my thoughts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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FahriZah
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March 27, 2023, 05:44:17 PM |
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Since 2015 Or 2016 Actually I Have Many More Bitcoin But At The Time I Don,t Understanding About Bitcoin Properly When 1 Bitcoin $750 And Maximum 1 BITCOIN $800 Than I Din,t Know How It’s Working In Future Bitcoin But Today Upsetting Like Not Hold And Crying Now Like This Than Felling Veey Bad For Paying With BTC.
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bounceback
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March 27, 2023, 07:00:05 PM |
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-snip- What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.
For me, as long as I still have stablecoins or fiat currency, I will not plan to spend bitcoins because if the bitcoin price goes up, of course we will regret spending bitcoins, let alone spend it when the price is down, currently the bitcoin price is at the level of $ 27,124k , so if for example you want to make a payment of $ 100 using bitcoin then we will spend BTC0.0037 imagine when the price of bitcoin rises x2 means we have missed the opportunity to get $ 100 also from the total amount of bitcoin we spend.
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tjtonmoy
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March 27, 2023, 07:06:12 PM |
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What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.
You are selling your BTC in order to obtain stablecoin, right? So if you are paying with BTC, what't the different? If you are holding for a long time and faced a bear market as we are facing now, then I think you have the right to feel bad for it. Although, if you are in need of money and you can't obtain it without converting your BTC or paying with it, then I guess there's not much to say about it. All I can say is, DCA after you used your BTC. Try to regain your former amount by trading or investing at DIP. Another thing is that, you need to keep one portion of your holdings separately just for payments. Think of it like fiat money. If you hold fiat money, it doesn't increase in value. Or, as you said already in the OP, keep them converted into stablecoins.
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Vaskiy
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March 27, 2023, 07:06:53 PM |
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-snip- What are your thoughts about this? Personally, I usually try to buy with stablecoins if I have some, it just feels more natural for me. I don't want to touch my BTC while the market is still bad.
For me, as long as I still have stablecoins or fiat currency, I will not plan to spend bitcoins because if the bitcoin price goes up, of course we will regret spending bitcoins, let alone spend it when the price is down, currently the bitcoin price is at the level of $ 27,124k , so if for example you want to make a payment of $ 100 using bitcoin then we will spend BTC0.0037 imagine when the price of bitcoin rises x2 means we have missed the opportunity to get $ 100 also from the total amount of bitcoin we spend. This is how most of the people think and end up without spending. More we spend more will be the circulation of bitcoin and the real-time usage will be high all around. Only through this it is possible to make the dream for which Satoshi innovated bitcoin. Everything have got certain time period for transition. It took years for bitcoin to have its increased usage on investment and real-time needs. Earlier it was much used on dark web and gambling. Along with the transition of bitcoin, people will also understand the need and start spending
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